SUI Currency Analysis #TradingStrategyMistakes

Current Price and Market Performance of $SUI

- Current Price: 3.52$ .

- Daily Change: Increased by +8.99% to +9.31% in 24 hours.

- Market Value: $12.15 billion, ranked #15 globally.

- Trading Volume: 1.97 billion$ in 24 hours, with a 74% increase in derivatives.

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📊 Key Technical Analysis

1. Market Trend:

- Broke the downtrend channel and turned into an uptrend after stabilizing above 2.7$ .

- The price is currently trading above the main moving averages:

- 50 days: 3.02$

- 100 days: 3.07$

- 200 days: 3.00$ .

2. Technical Indicators:

- MACD: Shows a continuous buy signal since June 28, supporting the bullish momentum.

- RSI: In the weekly timeframe, it indicates a general downward trend (reading less than 50), but the daily momentum is positive.

- Oscillators: Indicate "neutrality" with a slight tendency to buy in the short term.

3. Support and Resistance Levels:

- Strong Support: 3.00$ - 3.20$ (moving average area).

- Near Resistance: $3.50, then 4.00$ (key psychological level).

- Upward Target: 6.00$ if the momentum continues with Bitcoin's rise.

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💡 Short-Term Outlook and Trading Strategy

- Daily Range: The price may test $3.50, and if it breaks it, the next target is 4.00$ .

- Suggested Strategy:

- Buy at: 3.20$ - 3.30$ (near support).

- Take Profit: at 3.90$ - $4.00.

- Stop Loss: below 3.00$ .

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